The FI's Advice: Have Accounts in Multiple Banks

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The FI's Advice: Have Accounts in Multiple Banks
Photo: Henrik Montgomery/TT

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Swedish households should have accounts in several different banks, believes the Swedish Financial Supervisory Authority's (FI) director-general Daniel Barr.

The reason is that the risk of cyber attacks against Swedish companies has increased and banks are exposed, reports Sveriges Radio Ekot.

If a household's regular bank is affected, it's good to have alternatives, notes Barr.

You can have accounts in several banks. You can have bank cards, you can have Swish and other things. If one of the ways to pay disappears for a period, then you have other ways to manage your payments, he says to Ekot.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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